July 24, 2019 / 11:16 AM / 4 months ago

RPT-ICRA ratings for Indian debt instruments-Jul 24

 (Repeating to add more ratings)
    Jul 24 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of July 23, 2019.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Aceto Chem Pvt Ltd                      Non-fund Based - LOC  ICRA A4+     40      Reaffirmed
Bajaj Electricals Ltd                   ST – FB Limits        ICRA A1      3150    Revised from
                                                                                   ICRA A1+
Bajaj Electricals Ltd                   ST – CP               ICRA A1      5000    Revised from
                                                                                   ICRA A1+
Bhuvaneswari Tex                        ST - Fund Based       ICRA A4+     166     Reaffirmed
(removed from Issuer not cooperating category)
Bhuvaneswari Tex                        ST - Non-Fund Based   ICRA A4+     1.5     Reaffirmed
(removed from Issuer not cooperating category)
Bhuvaneswari Tex                        ST - Unallocated      ICRA A4+     1.3     Reaffirmed
                                        Limits
(removed from Issuer not cooperating category)
Jabs International Pvt Ltd              Non-fund Based - LOC  ICRA A2      20      Reaffirmed
                                        Unallocated
Keltron Component Complex Ltd           ST – Non-FBL          ICRA A4      127.5   Reaffirmed
Mm Auto Industries Ltd                  ST: Non fund based    ICRA A4      25
(Rating continue to remain in ‘Issuer Not Cooperating’ category)
Rashtriya Chemicals And                 CP Programme          ICRA A1+     20000   Reaffirmed
Fertilizers Ltd
Sovereign Metals Ltd                    Non-FBL               ICRA A4      280#    outstanding
# Includes propose facility of Rs. 90 crore
Sovereign Metals Ltd                    ST FBL                ICRA A4      650     Assigned
Symcom Communication                    ST Non-fund Based LOC ICRA A4      -
                                        (Interchangeable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Teems India Towerlines Pvt Ltd          ST – Non-fund based   ICRA A3      230
Reason for delay in carrying out periodic review: Review process is underway
Winmax Ceramic Pvt Ltd                  Non-fund Based BG     ICRA A4      15      Reaffirmed

LONG TERM RATINGS:
-------------------
A Plus Design House Llp                 TL                    ICRA BBB     480     Assigned
Aceto Chem Pvt Ltd                      FB - TL               ICRA BB+     33.8    Reaffirmed
Aceto Chem Pvt Ltd                      FB - Working Capital  ICRA BB+     45      Reaffirmed
                                        Fac
Bajaj Electricals Ltd                   LT-NCD programme      ICRA A       2000    Revised from
                                                                                   ICRA A+
Bajaj Electricals Ltd                   LT - TL               ICRA A       200     Revised from
                                                                                   ICRA A+
Bajaj Electricals Ltd                   LT – FB Limits        ICRA A       3797    Revised from
                                                                                   ICRA A+
Bajaj Electricals Ltd                   LT/ST - Non-FBL       ICRA A       27003   Revised from
                                                              /ICRA A1             ICRA A+ /
                                                                                   ICRA A1+
Bajaj Electricals Ltd                   LT/ST – FB/Non-FBL    ICRA A       13275   Revised from
                                                              /ICRA A1             ICRA A+ /
                                                                                   ICRA A1+
Bajaj Electricals Ltd                   LT-NCD programme      Provisional  1500    Revised from
                                                              ICRA A               Provisional
                                                                                   ICRA A+
Betterman Engineers Pvt Ltd             Bk Fac                ICRA B       160
                                                              /ICRA A4
Reason for delay in carrying out periodic review:- Review process is underway
Bhutan Ventures Hospitality             Long-TL               ICRA BB      300     Assigned
Pvt Ltd
Bhuvaneswari Tex                        LT – TL               ICRA BB+     7.2     Reaffirmed
(removed from Issuer not cooperating category)
Handloom Bhandar                        LT: Fund based TL     ICRA B       32
(Rating continue to remain in ‘Issuer Not Cooperating’ category)
Handloom Bhandar                        LT: Fund based CC     ICRA B       50
(Rating continue to remain in ‘Issuer Not Cooperating’ category)
Handloom Bhandar                        LT: Unallocated       ICRA B       18
(Rating continue to remain in ‘Issuer Not Cooperating’ category)
Jabs International Pvt Ltd              Unallocated           -            0       -
Jabs International Pvt Ltd              FB - Pre-shipment     ICRA         200     Reaffirmed
                                        Credit (EPC/PCFC)     BBB+/ICRA A2
Jabs International Pvt Ltd              FB - Post-shipment    ICRA         250     Reaffirmed
                                        Credit (FBP/FBD/EBR)  BBB+/ICRA A2
Jabs International Pvt Ltd              FB - Pre-shipment/    ICRA         352.5   Reaffirmed
                                        Post-shipment Credit  BBB+/ICRA A2
                                        (EPC/PCFC/FBP/FBD)
Kali Aerated Water Works Pvt            LT – TL               ICRA BBB-    100
Ltd
(Reason for delay in carrying out periodic review: Rating process is underway)
Kali Aerated Water Works Pvt            LT - FB Fac           ICRA BBB-    70
Ltd
(Reason for delay in carrying out periodic review: Rating process is underway)
Kali Aerated Water Works Pvt            ST, Interchangeable*  ICRA BBB-    -
Ltd
*Sub-limit of long term facilities/Reason for delay in carrying out periodic review: Rating
process is underway
Kalis Sparkling Water (P) Ltd.          LT - FB Fac           ICRA BBB-    432090
(Reason for delay in carrying out periodic review: Rating process is underway)
Kalis Sparkling Water (P) Ltd.          LT – TL               ICRA BBB-    432090
(Reason for delay in carrying out periodic review: Rating process is underway)
Keltron Component Complex Ltd           LT – CC limits        ICRA B+      112.5   Upgraded
                                                                                   from ICRA B-
Mad Studios Pvt Ltd                     LT FB TL              ICRA D       130
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Mad Studios Pvt Ltd                     LT FB CC              ICRA D       25
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Mad Studios Pvt Ltd                     LT Non-fund Based     ICRA D       20
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Mm Auto Industries Ltd                  LT: Fund based TL     ICRA B       49.5
(Rating continue to remain in ‘Issuer Not Cooperating’ category)
Mm Auto Industries Ltd                  LT: Fund based CC     ICRA B       135
(Rating continue to remain in ‘Issuer Not Cooperating’ category)
Mm Auto Industries Ltd                  LT: Unallocated       ICRA B       85.9
(Rating continue to remain in ‘Issuer Not Cooperating’ category)
Rashtriya Chemicals And                 Bk Fac                ICRA AA      51000   Reaffirmed
Fertilizers Ltd
Rashtriya Chemicals And                 NCDs                  ICRA AA      5000    Reaffirmed
Fertilizers Ltd
Saisons Trade & Industry Pvt            NCDs(NCD)             ICRA B       50      Upgraded
Ltd                                                                                from ICRA D
(removed from Issuer Not Co-operating category)
Sanghi Jewellers Pvt. Ltd.              Fund Based- CC        ICRA BBB-    620     Reaffirmed
Sanghi Jewellers Pvt. Ltd.              Unallocated           ICRA BBB-    10      Reaffirmed
Sovereign Metals Ltd                    LT FBL                ICRA BB-     -       outstanding
** Sub-limit of non-fund based facility
Symcom Communication                    LT FB CC              ICRA B+      250
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Teems India Towerlines Pvt Ltd          LT – FB               ICRA BBB-    20
(Reason for delay in carrying out periodic review: Review process is underway)
Vidya Herbs Pvt. Ltd.                   LT - FB Fac TL        ICRA A-      645     outstanding
Vidya Herbs Pvt. Ltd.                   LT - FB Fac - CC      ICRA A-      850     Assigned
                                                                                   /outstanding
Vidya Herbs Pvt. Ltd.                   LT / ST - Unallocated ICRA A- /    5       outstanding
                                        Limits                ICRA A2+
Winmax Ceramic Pvt Ltd                  FB TL                 ICRA B       15.3    Reaffirmed
Winmax Ceramic Pvt Ltd                  FB CC                 ICRA B       60      Reaffirmed
Winmax Ceramic Pvt Ltd                  Unallocated Limits    ICRA B       34.7    Reaffirmed
                                                              /ICRA A4
Renaatus Procon Pvt Ltd                 LT – TL               ICRA BBB-    385.6   Outstanding
                                                                                   / Assigned
Renaatus Procon Pvt Ltd                 LT Fund Based         ICRA BBB-    28.4    Outstanding
                                                                                   / Assigned
Renaatus Procon Pvt Ltd                 LT Unallocated        ICRA BBB-    93      Outstanding
                                                                                   / Assigned
 
--------------------------------------------------------------------------------------------
$: Rating watch with positive implication
#: Rating Watch with Developing implications
@: Rating Watch with Negative Implications
%: Rating under Credit Watch
wd -Rating Stands Withdrawn
sp -Rating Suspended
pp -Principal Protected
pn -Principal Not Protected

ICRA may apply + or - signs for ratings to reflect a comparative standing within the category.

BG-Bank Guarantee; CC-Cash Credit; CCPS-Cumulative Convertible Preference Share; CD-Certificate
of Deposit; CLO-Collateralized Loan Obligation; CPA-Claims Paying Ability; CP-Commercial
Paper; CPS-convertible preference shares; CRPS- Cumulative Redeemable Convertible Preference
shares; DDB-Deep Discount Bond; EPBI-Exchange premium bond; FBL-Fund Based Limits; FRB/FRN
-Floating Rate Bond/Note; ICD -Inter Corporate Deposit; ITD-Immediate Term Debt; LOC-Letter of
Credit; LT -Long Term; LTB -Long Term Borrowing; LTD -Long Term Debt; MOCD-multiple option
convertible debenture; MTD -Medium term Debenture; MTN-medium term notes; NCD(SO) -
Non-Convertible Debenture-(Structured Obligation); NCD-Non-convertible Debentures; NCRB-Non
Convertible Redeemable Bonds; NM-Not Meaningful; OCD-optionally convertible debenture; OD-Over
Draft; OFCD-Optionally Fully Convertible Debenture; PCD-Partially Convertible Debenture;
PCN-partly convertible notes; PCPS-Partly Convertible Preference Share; POCD-partly optional;
PP-privately placed; PSPC-Post Shipment & Packing Credit; PS-Preference Shares; PTC-Pass
Through Certificates; RPS-Redeemable Preference Shares; SCPN-secured convertible preference
notes; SDO-Structured Debt Obligation; SLR-Statutory Liquidity Ratio; SO-Structured
Obligation; SPCD - Secured Partly Convertible Debentures; SPN-secured premium notes; STB-Short
Term Bond; STD-Short Term Debentures; ST-Short Term; Sub. Bonds-Subordinate Bonds; TB-Taxable
Bond; TFB-Tax Free Bond; TL-Term Loan; TOCD-triple option convertible debentures.

(Mumbai Rate Reporting Unit + 91 22 6180 7222 / 3317 7222 , E-mail at
rru.data@thomsonreuters.com)
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